Euro/USD Fell for the Eighth Day –Daily Recap May 9

The Euro/USD continued its downward trend as investors are getting nervous over the recent political changes in France and Greece that might mean that these countries will not stick to the austerity plans. The safe haven currency CHF also depreciated again against the U.S dollar. Furthermore, the Canadian dollar and other currencies such as the GBP and Austrian dollar also declined against the USD. Gold and silver prices also continued to fall on Wednesday; finally, crude oil price (WTI) also declined yesterday.

Here is a summary of the development of major currencies for May 9th:

Forex Market:

The Euros to US Dollar decreased again by 0.58% to 1.2930; during the month, the EUROS/USD decreased by 2.33% Australian Dollar to US Dollar also fell by 0.70% to 1.0051.

The U.S dollar to Canadian dollar increased to 1.003. During the month so far the USD/CAD exchange rate increased by 1.55%.

The GBP to USD also slipped by 0.19% to 1.6128; from the beginning of the month the GBP to USD decreased by 0.65%.

Finally, the U.S Dollar/ Yen traded down by 0.29% to 79.64.

Commodities Market:

Gold price declined again on Wednesday by 0.34% to $1,594.2. During the month, gold price decreased by 4.21%.

WTI oil price also decreased by 0.21% and reached $96.81 per barrel; during the month so far the WTI decreased by 7.69%.

A Summary of the Changes in Exchange Rates for May 9th:

The table below includes: closing prices, daily percent change, and daily changes:

Exchange Rate Forex 2012 EURO USD May 9

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